Rosatom Russia’s nuclear corporation will collaborate with the Russia-China Investment Fund for Regional Development (RCIF) to create a joint uranium mining project in Zabaikalsky Region in Western Russia.
The Priargynsky Industrial Mining and Chemical Union will have the 51% of this new venture. On the other hand ARMZ Uranium Holding will have 49%. Total valuation is $325million.
China National Nuclear Corporation will finance most of the project with $282 million and the rest by RCIF.
The mine will work by 2023 and it has total reserves of 40.000 tons. With annual capacity of 850.000 tons uranium ore.